At Huntley Wealth Insurance, when we get a “tough” life insurance case, we are prepared to do whatever it takes to deliver an affordable approval to our client.
That’s why we commonly use the Trial Offer.
Simply put, a trial offer request is when we send a summary of our client’s medical history to 15-30 life insurance companies. The underwriters review the info and write us back with the health classification at which they are most likely to approve the case.
This is how we determine which insurance company is the best to use for a particular case. Whoever comes back with the best offer generally gets our business.
For cases where we used trial offers successfully, please see our Testimonials Page.
The Steps to Effectively Use a Trial Offer:
- Run the quotes from the various companies
- Deliver the quotes to our clients
- Usually apply to the company quoting the lowest premium
- Attach the trial offer to the application – This way the underwriter assigned to the case can see his/her company has already reviewed the case, and will know how they are expected to approve the case.
Understanding a “Tentative” Offer
Most of the responses from the underwriters will include language like “very tentatively standard assuming x, y, and z” or “we can go preferred as long as the applicant’s compliance is well documented in his medical records.”
Keep in mind, at this point, the carrier still has not seen your medical records or lab results.
One of our agents has summarized your case to them, and they will try to stick to the original offer if they can, but you must understand it is very tentative. So if they find the health of the applicant to be materially different from the original summary provided to them, of course they can rate the case differently than originally quoted.
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Example of a Trial Offer Request
I recently send out the following request for a client with a history of atrial fibrillation that looked like this:
I have a male, age 62, non tobacco, 5-10, 185 lbs.
A few health issues:
Tinnitis – Ringing in ears dx Jan 2011, did MRI/Cat scan, ruled out brain issues, it is definitely an inner ear condition caused by many years working for a railroad company. Takes Alprazolam (similar to Xanax) as needed when he gets it, which is around 2x per week.
Diabetes – Diagnosed in last couple years. Well controlled with a1c of 6.0 to 6.4, takes Tradjenta. Exercises daily on treadmill. 5’10, 185 lbs.
A Fib History – In Nov 2008, had single episode of A Fib. Stayed overnight in hospital. It was corrected with medications (took blood thinner for a short time). A fib was reasoned to be caused by heavy stress at work and high blood pressure. Since then, he has retired, and started taking Benicar for BP at the time (which he still takes preventatively). In his first follow up appointment, heart rate was great and has been since. Gets regular checkups with cardiologist, including normal stress tests.